China's BYD to establish car plant in Karachi, marking its entry into Pakistan
China's BYD to establish car plant in Karachi, marking its entry into Pakistan
Chinese electric vehicle giant BYD announced on Saturday that it would commence car production in Pakistan, where three of its models would also be sold in conjunction with Mega Motors.
BYD would be the first major new EV entrant into the Pakistani market, which completely lacks infrastructure for charging.
"Our entry into the Pakistani market is not just about bringing advanced vehicles to consumers," said Liu Xueliang, BYD's general manager for Asia Pacific.
"It's about driving a broader vision of environmental responsibility and technological innovation."
It also wants to open three "flagship stores and experience centres" in Karachi, Lahore, and Islamabad, the company said in a statement at an inauguration ceremony in Lahore, adding that it would start selling two models of sport utility vehicles and a sedan from the fourth quarter of 2024 onwards.
Mega Motors is a subsidiary of the largest private utility in Pakistan, Hub Power Co Ltd HPWR.PSX, better known as Hubco.
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"We will establish Pakistan's first NEV assembly plant... dedicated to producing BYD's cutting-edge new energy vehicles," said Hubco Chief Executive Kamran Kamal, who described the deal as a "landmark investment".
The new plant will start operations in 2026, according to Reuters.
Hubco will set up fast-charging stations across major cities, motorways, and highways to improve Pakistan's charging infrastructure.